HLSE:TTALO

Stock Analysis Report

Executive Summary

Terveystalo Oyj provides healthcare services in Finland.


Snowflake Analysis

Fair value with moderate growth potential.

Share Price & News

How has Terveystalo Oyj's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: TTALO's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

2.9%

TTALO

2.2%

FI Healthcare

7.9%

FI Market


1 Year Return

-16.7%

TTALO

-20.6%

FI Healthcare

-17.8%

FI Market

Return vs Industry: TTALO exceeded the Finnish Healthcare industry which returned -20.5% over the past year.

Return vs Market: TTALO exceeded the Finnish Market which returned -20.6% over the past year.


Shareholder returns

TTALOIndustryMarket
7 Day2.9%2.2%7.9%
30 Day-24.9%-16.1%-15.0%
90 Day-28.1%-21.1%-19.0%
1 Year-14.9%-16.7%-19.3%-20.6%-13.9%-17.8%
3 Yearn/a-31.2%-33.9%0.6%-11.7%
5 Yearn/a-13.5%-18.7%8.3%-12.3%

Price Volatility Vs. Market

How volatile is Terveystalo Oyj's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Terveystalo Oyj undervalued compared to its fair value and its price relative to the market?

44.1%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: TTALO (€7.95) is trading below our estimate of fair value (€14.57)

Significantly Below Fair Value: TTALO is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: TTALO is good value based on its PE Ratio (18.7x) compared to the Healthcare industry average (18.7x).

PE vs Market: TTALO is poor value based on its PE Ratio (18.7x) compared to the Finnish market (15x).


Price to Earnings Growth Ratio

PEG Ratio: TTALO is poor value based on its PEG Ratio (1.2x)


Price to Book Ratio

PB vs Industry: TTALO is overvalued based on its PB Ratio (1.9x) compared to the XE Healthcare industry average (1.6x).


Next Steps

Future Growth

How is Terveystalo Oyj forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

16.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TTALO's forecast earnings growth (16.1% per year) is above the savings rate (-0.1%).

Earnings vs Market: TTALO's earnings (16.1% per year) are forecast to grow faster than the Finnish market (9.2% per year).

High Growth Earnings: TTALO's earnings are forecast to grow, but not significantly.

Revenue vs Market: TTALO's revenue (4.5% per year) is forecast to grow faster than the Finnish market (2.9% per year).

High Growth Revenue: TTALO's revenue (4.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: TTALO's Return on Equity is forecast to be low in 3 years time (13.3%).


Next Steps

Past Performance

How has Terveystalo Oyj performed over the past 5 years?

64.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TTALO has high quality earnings.

Growing Profit Margin: TTALO's current net profit margins (5.3%) are lower than last year (9.2%).


Past Earnings Growth Analysis

Earnings Trend: TTALO has become profitable over the past 5 years, growing earnings by 64.3% per year.

Accelerating Growth: TTALO's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: TTALO had negative earnings growth (-21.1%) over the past year, making it difficult to compare to the Healthcare industry average (-3.2%).


Return on Equity

High ROE: TTALO's Return on Equity (10%) is considered low.


Next Steps

Financial Health

How is Terveystalo Oyj's financial position?


Financial Position Analysis

Short Term Liabilities: TTALO's short term assets (€148.6M) do not cover its short term liabilities (€266.6M).

Long Term Liabilities: TTALO's short term assets (€148.6M) do not cover its long term liabilities (€551.4M).


Debt to Equity History and Analysis

Debt Level: TTALO's debt to equity ratio (69.2%) is considered high.

Reducing Debt: TTALO's debt to equity ratio has reduced from 133.8% to 69.2% over the past 5 years.

Debt Coverage: TTALO's debt is well covered by operating cash flow (46.4%).

Interest Coverage: TTALO's interest payments on its debt are well covered by EBIT (6.9x coverage).


Balance Sheet

Inventory Level: TTALO has a low level of unsold assets or inventory.

Debt Coverage by Assets: TTALO's debt is not covered by short term assets (assets are 0.4x debt).


Next Steps

Dividend

What is Terveystalo Oyj's current dividend yield, its reliability and sustainability?

3.20%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: TTALO's dividend (3.27%) is higher than the bottom 25% of dividend payers in the Finnish market (3.25%).

High Dividend: TTALO's dividend (3.27%) is low compared to the top 25% of dividend payers in the Finnish market (6.51%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, TTALO has been paying a dividend for less than 10 years.

Growing Dividend: TTALO's dividend payments have increased, but the company has only paid a dividend for 2 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (61.1%), TTALO's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: TTALO's dividends in 3 years are forecast to be covered by earnings (53.8% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.3yrs

Average management tenure


CEO

Ville Iho (50yo)

0.33

Tenure

€27,273

Compensation

Mr. Ville Iho has been President & CEO of Terveystalo Oyj since December 6, 2019. Mr. Iho served as Chief Executive Officer at Nurminen Logistics Oyj since March 18, 2019 until December 05, 2019 and its Pr ...


CEO Compensation Analysis

Compensation vs Market: Ville's total compensation ($USD30.09K) is below average for companies of similar size in the Finnish market ($USD910.68K).

Compensation vs Earnings: Insufficient data to compare Ville's compensation with company performance.


Leadership Team

NamePositionTenureCompensationOwnership
Ville Iho
President & CEO0.33yr€27.27kno data
Ilkka Laurila
Chief Financial Officer5.25yrsno data0.25% 2.6m
Kati Kaksonen
Director of Investor Relations & Financial Communicationsno datano datano data
Minttu Sinisalo
Senior Vice President of Human Resources0.17yrno datano data
Jens Jensen
Senior Vice President of Corporate Health4.25yrsno data0.094% 971.3k
Juha Juosila
Chief Digital Officer4.25yrsno data0.070% 719.4k
Laura Räty
Senior Vice President of Public Partnerships4.25yrsno datano data
Siina Saksi
Senior Vice President of Private Customers & Clinics4.25yrsno data0.040% 411.0k
Pia Westman
Senior Vice President of Well-being4.25yrsno data0.019% 191.8k
Petri Bono
Chief Medical Officer1.17yrsno datano data

4.3yrs

Average Tenure

47yo

Average Age

Experienced Management: TTALO's management team is considered experienced (4.2 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Åse Michelet
Independent Director4.25yrs€63.25k0.020% 209.4k
Kari Kauniskangas
Independent Chairman of the Board1yr€91.31k0.0033% 34.6k
Lasse Heinonen
Independent Directorno data€61.91k0.0086% 88.9k
Dag Andersson
Independent Director1yr€50.05k0.0013% 13.8k
Tomas Von Rettig
Independent Vice-Chairman of the Board2yrs€61.91k0.0031% 32.0k
Paul Hartwall
Independent Director1yr€47.05k0.0013% 13.8k
Olli Holmström
Independent Director3.25yrs€53.05k0.0025% 25.5k
Katri Viippola
Independent Director2yrs€53.65k0.0025% 25.5k

2.0yrs

Average Tenure

54yo

Average Age

Experienced Board: TTALO's board of directors are not considered experienced ( 1.8 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Terveystalo Oyj's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Terveystalo Oyj
  • Ticker: TTALO
  • Exchange: HLSE
  • Founded:
  • Industry: Health Care Services
  • Sector: Healthcare
  • Market Cap: €1.035b
  • Shares outstanding: 127.31m
  • Website: https://www.terveystalo.com

Number of Employees


Location

  • Terveystalo Oyj
  • Jaakonkatu 3 B
  • 3rd Floor
  • Helsinki
  • Uusimaa
  • 100
  • Finland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TTALOHLSE (OMX Nordic Exchange Helsinki)YesCommon SharesFIEUROct 2017
4TSDB (Deutsche Boerse AG)YesCommon SharesDEEUROct 2017
0RV1LSE (London Stock Exchange)YesCommon SharesGBEUROct 2017
TTAL.FOTCPK (Pink Sheets LLC)YesCommon SharesUSUSDOct 2017
TTALOHBATS-CHIXE (BATS 'Chi-X Europe')YesCommon SharesGBEUROct 2017

Biography

Terveystalo Oyj provides healthcare services in Finland. The company offers versatile and occupational healthcare, and medical and examination services; and laboratory, imaging, and other diagnosis services, as well as insurance and clinical research services through approximately 300 clinics. It serves private individuals, companies and communities, insurance companies, and public sector customers. The company is based in Helsinki, Finland. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/01 06:00
End of Day Share Price2020/03/31 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.